why do we have to pay Realty Trac to get listings of foreclosures...aren't these lists free anyway>?????

Joycal
Home Buyer
Lake Arrowhead, CA

Answers (2)
Steve Ornellas:...
Broker
Fremont, CA

Hi Joycal, don't waste you money.

If you value your time, I need to inform you of a few facts about Trulia, and more importantly, RealtyTrac:

One of the companies that Trulia has a data share agreement with is RealtyTrac. I'm not sure if you are only interested in distressed property; however, RealtyTrac is not a "distressed property MLS", they simply take public record notices and syndicate the information to the web. To the uninformed this looks like home are being sold for cheap; however, the truth is the homes are not even for sale. If you are looking for distressed property you should know that distressed property is almost always sold via Realtor MLS systems (to provide the widest exposure as possible since 99.99% of AOR MLS listings are automatically fed to the national http://www.realtor.com website). The remainder is sold directly to investors via public auction on the County courthouse steps via a Trustee Sale, or via private auction companies (you have probable seen these commercial on TV).

To remove all RealtyTrac “foreclosure” listings from your Trulia search results go to your search results page. Check out the Refine Search box on the left and scroll down to 'Listing Type'. Uncheck the 'foreclosure' selection and your search will update automatically and filter out all RealtyTrac listings.

If you are truly are serious about finding out whether you can buy a home:

a) Your first step should be a loan Pre-Approval to confirm what you can actually afford before placing an offer. You can read more about the loan pre-approval process here: http://www.Steven-Anthony.com/default.aspx?pp=39377

In this market, you will not be taken seriously if you attempt to make an offer without a Pre-Approval letter.


b) You need to find a Realtor to work with. Once you do, and your Pre-Approval has been completed, have them set up an automated MLS "search agent" for you so you get notifications (that match your search criteria) automatically via email as soon as they are made on the MLS. Buyer reaction time is vitally important in the current market. If you have not taken all of the steps above before looking for a home it is very likely the home you have interest in will have been secured by another buyer that has.

In regards to finding a Realtor, each Agent's website will likely list accreditations and client testimonials. These sites, as well as a review of their Trulia answers will give you good insight into the depth of knowledge and experience of each individual.

Note that DRE licensees are NOT bound to a Code of Ethics; only Realtors take that oath, which can be viewed here:
http://docs.Steven-Anthony.com/RealtorCOE.pdf

You can check to make sure an Agent is a Realtor by going here:
http://www.realtor.org/rofindrealtor.nsf/pages/FS_FREALTOR?O…

Additionally, you can check for Agent DRE violations here:
http://www2.dre.ca.gov/PublicASP/pplinfo.asp

While not required to receive excellent representation, consider searching for a Realtor who is also an Accredited Buyers Representative here:
http://www.rebac.net/MembershipDirectorySearch.aspx

Best, Steve

Sun Nov 1 2009, 09:41
Jenny A. Le
Agent
California
FIRST ANSWER

Not all foreclosure listings are free, or even accurate/current, on the internet.

If you're looking for foreclosure listings, then it is best that you get it from the Realtors. We have direct access to the local MLS and the data is updated at least every hour, if not more often.

Send me your property criteria and I will send you a FREE list of foreclosures.

Email: Contact@ActusPropertySolutions.com

Sat Oct 31 2009, 21:49

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